Related services are services of performing agreed-upon procedures based on the agreed objective, scope of work and method, with their description and result later presented in the service report, or financial information compilation services designed to make use of accounting expertise in order to collect, classify and summarise financial information.

1. 1. Agreed-upon procedures:

The purpose of the service involving agreed-upon procedures is for a statutory auditor to perform audit-like activities within the scope as agreed between the statutory auditor, the company and any relevant third parties.

In the agreed-upon procedure service, the statutory auditor does not issue any assurance and does not formulate any conclusion or opinion but instead presents a report based on the facts established in respect of the financials. The report is not made public but is only accessed by the parties with whom the procedures were agreed upon. The decision on specific procedures is made by the company after a discussion with the statutory auditor, which allows the latter to focus on areas considered as the most important.

What is the service of reviewing selected information within agreed-upon procedures?

• the client and the statutory auditor agree on the rules of assessing and analysing selected information or a specific element of the company's work organisation
• depending on the audited area, the auditor analyses documents, interviews employees and observes material activities or assets, and performs any other activities required for the service,
• works are carried out in the way and at the time as agreed with the party ordering the service
• the service is concluded with submission of a report presenting a detailed description of the completed tasks
• a detailed scope of the report is each time agreed upon, depending on the needs and expectations of the client
• the report may include: a detailed analysis of the risks related to the audited area; the corrections to be made; recommendations of the statutory auditor regarding proposed improvements and upgrades

Agreed-upon procedure services are provided in accordance with the National Standard on Related Services 4400 and they include but are not limited to due diligence in finance and other thematic audits. In collaboration with its partners, Mac Auditor also provides comprehensive due diligence services in the legal and tax area.

1. 2. Compilation of financial statements:

The company manager may request the statutory auditor’s assistance in the preparation and presentation of the company's financial information. For users of financial information, the advantage of a compilation service conducted in accordance with the National Standard on Related Services 4410 arises from the application of professional accounting and financial reporting expertise of a statutory auditor and from observance of professional standards, including the applicable ethical requirements, as well as clear communication of the nature and scope of the statutory auditor’s involvement in the compiled financial information.